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Provided Exclusively to:

Our Best Buyer Clients!  

 

Buyer Information Package      

 

        Provided  By  Lee  &  Stephanie  Nash   Licensed  Texas  REALTORS®   ERA  Colonial  Real  Estate    

 

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  

 


Provided Exclusively to:

Our Best Buyer Clients!  

Reasons  to  Buy  a  Home    

   

ü

Pride  of  ownership  

ü

Good  investment  

ü

Tax  deductions  

ü

Capital  gain  exclusions  

ü

Preferential  tax  treatments  

ü

Amortization  builds  equity         Which  of  these  is  most  important  to  you?      

 

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Describe  Your  Dream  Home       How  many  bedrooms?     _____________________________________________________     How  many  baths?    _________________________________________________________     How  many  living  areas?     ____________________________________________________     What  size  garage?    _________________________________________________________     What  area  do  you  want  to  live?   ______________________________________________     What  style  home  do  you  like?     _______________________________________________     When  do  you  want  to  occupy?    _______________________________________________     What  is  most  important  to  you  in  a  home?       ____________________________________      ________________________________________________________________________      ________________________________________________________________________      ________________________________________________________________________      ________________________________________________________________________     Are  schools  important?        Yes    q          No    q          If  yes,  which  ones  and  why:  ______________      ________________________________________________________________________      ________________________________________________________________________      ________________________________________________________________________     Where  do  you  work?     ______________________________________________________     When  is  the  best  time  to  look?  _______________________________________________     If  we  found  the  right  home  for  you  today,  is  there  be  any  reason  that  could  keep  you   from  buying  it?  ____________________________________________________________     Does  anyone  else  have  to  approve  of  your  purchase?  _____________________________     Notes:     __________________________________________________________________      ________________________________________________________________________      ________________________________________________________________________      ________________________________________________________________________         ©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

 

Financing  Decisions   Start

ê Cash

Verification of funds

Yes è

ê No Financing

ê Assumption

è

Cash to Equity

è

Fixed Rate

nd è Cash+2 Mortgage

ê New Mortgage

ê Type

ê Down Payment

è

 

0%

è

è 3.5%

Adjustable

è

10%

20%

è

ê Term

è

30 year

è

15 year

è

None

è

Closing Costs

ê Concessions

è

Buy Down

ê End

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Home  Buying  Process     Initial Interview ê Pre-Approval ê Show Homes ê Offer Written

è

è

è

Verifications

MLS

è

è

Letter

Builders

è

FSBO

Negotiated

ê Contract ê Escrow Opened ê Appraisal

è

Earnest Money

è

Title Search

è

Underwriting

ê Inspections ê Settlement ê Possession

                 

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

     

 

Positioned  to  Assist  You    

I  help  people  understand  the  tax  advantages,  financing   alternatives,  and  investment  aspects  of  homeownership  and   what  makes  now  an  incredible  time  to  buy.          

I  can  assist  you:   • • • • • • • •

Find  the  “right”  home  to  purchase   negotiate  the  terms  of  the  sale   with  price  negotiations   with  paperwork   with  comparable  sales  data   with  lender  selection     with  financing  alternatives     to  increase  bargaining  power  

• with  neighborhood  knowledge      

Your  cost  of  housing  is  determined  by  price  and  financing   and  I  want  to  help  with  the  decisions  along  the  way.        

Agents  with  the  RFC  designation  are  trained  and  equipped  with  tools  to  address  buyers’  and   sellers’  specific  needs.        

 

©  2010-­‐2011  Residential  Finance  Consultant  

  Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Market  Cycle      

      Most  people  tend  to  react  to  the  market  based  on  what  everyone  else  is  doing.    If  a   person  buys  at  the  top  of  the  market,  there  is  the  lowest  chance  for  opportunity  and  the   highest  degree  of  risk.    On  the  other  hand,  if  a  person  buys  at  the  bottom  or  near  the   bottom,  there  is  a  higher  opportunity  for  an  increase  in  value  with  lower  risk  of  loss.      

 

©  2010-­‐2011  Residential  Finance  Consultant  

          Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

 

©  2010-­‐2011  Residential  Finance  Consultant  

 

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

The  Time  to  Buy  is  NOW!!!    

Good  Selec^on   Low  Prices/Good  Value   Low  Interest  Rates   Tax  Incen^ves     Inventories  of  homes  are  higher  than  they  have  been  in  recent  years  that  allow  buyers   to  choose  the  property  that  meets  their  needs  instead  of  having  to  settle  less  desirable   alternatives.     Sales  prices  have  dropped  considerably  in  most  markets  and  in  many  instances,  are   lower  than  it  would  cost  to  rebuild  the  home  at  today’s  prices.    Foreclosed  homes  in   some  markets  have  artificially  driven  down  the  price  of  homes  in  the  neighborhoods.     Once  the  inventory  has  been  absorbed,  it  would  be  reasonable  to  see  prices  increase.     Interest  rates  are  lower  than  they  have  been  in  generations  and  may  never  be  this  low   again.    Fixed  rate  mortgages  with  excellent  terms  are  available  for  those  buyers  who  can   qualify.     There  are  significant  tax  incentives  for  the  homeowner  and  for  those  people  who  can   act  now.        

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

 

©  2010-­‐2011  Residential  Finance  Consultant  

 

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Homeowners  have  a  higher  net  worth  than  renters  as  is  exhibited  in  the  2007  Federal  Reserve   Survey  of  Consumer  Finances.    Between  1998  and  2010,  a  homeowner  had  between  31  and  46   times  greater  net  worth  than  that  of  a  homeowner.    Most  of  that  net  worth  is  due  to  the  equity   in  their  home.     Even  taking  into  consideration  that  values  in  real  estate  have  come  down  considerably  in  the   last  few  years  due  to  the  housing  crisis,  NAR  estimates  that  homeowners  still  have  41  times   more  net  worth  than  renters.     Combine  all  of  the  reasons  cited  along  with  the  low,  low  mortgage  rates  that  are  available  today   but  may  be  starting  to  creep  up  and  now  is  a  GREAT  time  to  buy  a  home…if  you  can  afford  it  and   have  good  credit.    If  you  don’t  own  a  home  currently,  it  certainly  is  worth  exploring  your   individual  situation  with  an  expert.    There  may  never  be  a  better  time  to  buy  a  home  than  now.    

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Tax  Deductions            

 

Acquisition  Debt   Up  to  $1  Million  

 

Home  Equity  Debt   Up  to  $100,000  

    The  interest  on  up  to  $1,000,000  of  acquisition  debt  and  up  to  $100,000  of  home  equity   debt  and  the  property  taxes  may  be  deducted  from  a  homeowner’s  Schedule  A  on  their   principal  residence.    The  effect  of  the  savings  depends  on  the  marginal  tax  bracket  of   the  taxpayer.  For  more  information,  see  IRS  publication  936.  

    ©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

The  benefit  of  the  tax  savings  is  generally  realized  when  the  homeowner  files  their   federal  income  tax  return  after  the  money  has  been  spent  for  the  interest  and  property   taxes.    It  is  possible  to  adjust  the  deductions  being  withheld  from  the  homeowner’s   salary  so  they  realize  the  benefit  of  the  savings  prior  filing  their  tax  returns.     Homeowner’s  considering  this  strategy  should  seek  tax  advice  and  discuss  it  with  their   human  relations  department  at  work.          

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Capital  Gain  Exclusion     The  gain  on  the  sale  of  a  principal  residence  that  has  been  owned  and  used  at  least  two   of  the  last  five  years  has  a  $250,000  exclusion  for  single  taxpayers  and  $500,000   exclusion  for  married  taxpayers  filing  jointly.    If  the  gain  exceeds  these  amounts,  the   gain  is  taxed  at  long  term  capital  gains  rates  currently  at  15%  maximum.                                                  

Married/  Jointly   Up  to  $500,000  

©  2010-­‐2011  Residential  Finance  Consultant  

Single   Up  to  $250,000  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Decision  Making  Tools   Rent  vs.  Own   2/1  Buy  Down   Your  Best  Investment   Cost  of  Wai^ng  to  Buy      

©  2010-­‐2011  Residential  Finance  Consultant  

 

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Interest  Rates  have  a  Dramatic   Influence  on  Cost  of  Housing        

 

©  2010-­‐2011  Residential  Finance  Consultant  

 

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

The  “Right”  home  without  financing   will  never  have  the  Buyer’s  address!   PRE-APPROVAL GIVES YOU CONFIDENCE • • • • • •

Amount    you  can ��borrow       decreases  as  interest  rates  rise   Looking  at  “Right”  homes   price,  size,  amenities,  location   Find  the  best  loan   rate,  term,  type   Uncover  issues  early   time  to  cure  possible  problems   Bargaining  power   price,  terms,  &  timing     Close  quicker   verifications  have  been  made  

Items Needed for Pre-Approval • • • • • • • • • •

• •

Photo  ID   Two  months  current  pay  stubs   Last  two  year’s  W2s  and  income  tax  returns   Complete  copies  of  checking  and  savings  statements  for  last  three  months   Copies  of  statements  for  IRAs,  401k,  savings,  CDs,  money  market  funds,  etc.   Employment  history  for  last  two  years  with  addresses  and  contacts   Proof  of  commissioned  or  bonus  income   Residency  history  for  last  two  years  with   addresses  and  contacts   Assets  for  down  payment,  closing  costs,  and   reserves;  must  provide  paper  trail   If  self-­‐employed,  last  two  years  tax  returns,   current  profit  and  loss  statement  and  balance   sheet;  copy  of  partnership/corporate  tax  returns   for  last  two  years  if  owning  more  than  25%  of   company   FHA  requires  driver’s  license  and  social  security   card   VA  requires  original  certificate  of  eligibility  and   DD214   Other  things  may  be  required  such  as  previous  bankruptcy,  divorce  decree  

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  

 


Provided Exclusively to:

Our Best Buyer Clients!  

Financial  Information     What  size  monthly  payments  do  you  want:    

$  ____________    

What  price  range  are  you  looking:    

$  ____________    

How  much  cash  is  available?  

$  ____________    

Does  this  include  closing  costs?  

       Yes  q  No  q  

Do  you  currently  own?        

       Yes  q  No  q    

Do  you  need  to  sell  before  buying?        

       Yes  q  No  q  

How  much  do  you  think  your  home  is  worth?    

$  ____________    

What  is  the  unpaid  balance?  $__________  Interest  rate  _____%    term  ________yrs.  dated  ___/___/___     type  of  loan  ____________________________________________________________________________     Monthly  payment    

$  ____________    

If  renting,  how  much  is  your  rent?  

$  ____________    

List  your  regular  monthly  payments  (installment  debt,  revolving  charges,  student  loan,  etc.)   Description  

Amount  

  ____________________________________________________________________    

$  ____________    

  ____________________________________________________________________    

$  ____________    

  ____________________________________________________________________    

$  ____________    

  ____________________________________________________________________    

$  ____________    

  ____________________________________________________________________    

$  ____________    

Are  all  debts  current?  

Yes  q  No  q                                  

Is  there  any  problem  with  your  credit?  

Yes  q  No  q  

What  is  your  monthly  income:   Employed  q        Self-­‐employed  q  

 $  ____________                          

What  is  your  spouse’s  monthly  income?        

$  ____________    

Do  you  have  any  other  monthly  income?        

Yes  q  No  q              

If  yes,  how  much?  

$  ____________    

Where  are  you  employed?     _______________________________________________________________     How  long  have  you  been  employed  there?  _______________________     ___________________________     Have  you  or  your  spouse  ever  taken  bankruptcy?        

Yes  q  No  q  

If  yes,  explain:  __________________________________________________________________________     Have  you  or  your  spouse  had  a  home  foreclosure?    

Yes  q  No  q  

If  yes,  explain:     _________________________________________________________________________       _____________________________________________________________________________________    

 

©  2010-­‐2011  Residential  Finance  Consultant  

 

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

I  can  show  you  all  available  homes    

       

Foreclosures

Builders

     

For Sale by Owner

MLS & other companies

  The  fastest,  easiest  way  to  learn  about   the  new  homes  on  the  market...    

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  

 


Provided Exclusively to:

Our Best Buyer Clients!  

Which  Level  of  Service  Do  You  Want?    

Buyer  Agency  can  benefit  you.    With  buyer  agency,  your  interests  will  be  represented  in   the  purchase  of  your  home.    This  is  different  from  a  typical  sub-­‐agency  transaction   where  the  buyer  is  not  technically  represented.     Agency  is  a  legal  relationship  and  a  written  agreement  should  be  completed  to  explain   all  the  duties  and  responsibilities.  

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


Provided Exclusively to:

Our Best Buyer Clients!  

Mutual  Commitment        

If I will:   Make  my  best  effort  to  find  the  home  that  meets  your  needs  until  you   either  find  a  home  or  tell  me  to  stop  looking,     Commit  my  time,  resources,  and  experience  to  find  exactly  what  you  want,   while  incurring  my  own  expenses       ____________________________                                 Lee and Stephanie Nash            

Will you:

     

  Tell  me  what  you  like  and  dislike  about  the  homes  we  look  at?     Tell  me  if  you  want  to  look  at  a  home  listed  with  another  broker,  builder,  or   for  sale  by  owner?     Tell  me  if  you  feel  the  need  to  talk  to  another  agent?     Let  me  know  if  your  plans  change?     Work  with  me  until  we  find  you  the  right  home?       ____________________________  

©  2010-­‐2011  Residential  Finance  Consultant  

Lee and Stephanie Nash   ERA Colonial Real Estate   Stephanie.Nash@ERA.com  •  (254) 265-5794  


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